Home Equity at Third Federal

Third Federal offers two types of home equity products — home equity lines and loans. Both products use the equity you have in your home as collateral, and serve as a second mortgage.

Opening a home equity line of credit (HELOC) or taking out a home equity loan (HELOAN) is a great way to pay for the big things that can improve your family's quality of life, like tuition, home renovations, or starting a business. And because you’re borrowing against the value of your home, your interest rate is usually quite low.